Digital last-mile platform market forecast to reach $21.7B

The global Digital Last-Mile Platform Market is expected to see extraordinary growth. From a valuation of USD $6.4 Bn in 2022, it is estimated to climb to a massive USD $21.7 Bn by 2031. This significant increase signifies a Compound Annual Growth Rate (CAGR) of 14.5% over the next decade (2022 to 2031).

The Digital Last-Mile Platform segment, steadily fuelled by an escalating growth in eCommerce and online shopping, aids in optimising and streamlining delivery processes. This optimisation ensures consumers experience hassle-free and efficient delivery services. These platforms leverage technologies, including GPS monitoring, real-time analytics, and route optimisation algorithms, enabling consumers to track their deliveries, receive timely notifications, and provide feedback.

This past year, some noteworthy developments have taken place within the sector, highlighting its cutting-edge dynamism. For instance, in May 2022, Locus, a globally recognised last-mile logistics technology company, made significant upgrades to its order-to-delivery dispatch management platform. This platform caters to retail, third-party logistics (3PL), and courier, express, and parcel (CEP) clients. These updates include delivery-connected checkout, cross-fleet utilisation, and dark shop optimisation, enhancing operational efficiency and customer satisfaction.

Similarly, another development in November 2022 saw a collaboration between Milkman S.P.A. and SAP SE, offering the Milkman Last Mile Platform through the SAP Store. This platform provides real-time updates on delivery progression and rescheduling options, enhancing transparency and adaptability for consumers.

On the front line of the Digital Last-Mile Platform Market are prominent players such as Onfleet Inc., FarEye Technologies, Inc., The Descartes Systems Group Inc., Shipwell, Inc., Shipsy.io, Onro, Inc., Scurri Ltd., Loginext Solutions Private Limited, Zebra Technologies Corporation, Click Labs Inc (Tooken), Bringg Delivery Technologies Ltd, and WorkWave LLC.

The diverse market space of Digital Last-Mile Platform is divided based on various factors, manifesting the diverse nature of the industry and catering to a plethora of end-users. The market is further segmented into component (software/platform and services), deployment (cloud and on-premise), application (route optimisation, tracking, customer communication, analytics and reporting, and others), and end-users (logistics, retail and eCommerce, healthcare, food and beverage, and others).

As the Digital Last-Mile Platform Market continues to evolve, the segmented categories offer valuable insights into the diverse applications, functionalities, and end-user preferences fuelling the industry's growth and innovation. According to a report from Transparency Market Research (TMR), these insights and developments highlight the importance and potential of this marketplace.